January 18, 2019

How Did the Big 4 Do in Snagging New SEC Audit Clients in Q3?

Answer: Nowhere near as good as Marcum, which brought 30 new SEC audit clients onboard during the third quarter—21 of which were former clients of GBH CPAs, a Houston-based firm that merged with Marcum in July, according to Accounting Today.

New York-based Marcum ended the quarter netting 22 new audit clients, more than twice its nearest competitor, Lakewood, Colo.-based BF Borgers, which brought on and netted 11 new clients.

So, what about the Big 4? According to the data, which was compiled by research firm Audit Analytics, Deloitte and EY had a decent quarter; KPMG and PwC, not so much.

Deloitte picked up seven new engagements—which pales in comparison to the 15 clients the firm gained in the second quarter—and netted the same. EY took on four new audit clients, with a net of +3.

KPMG also gained four new audit clients, but in typical KPMG fashion, lost six, ending up with a net -2. But, hey, at least that’s better than the net -9 KPMG had in Q2. PwC picked up two but lost three, so a net -1.

Other firms of note:

  • RSM: Gained two, lost zero (net +2)
  • Grant Thornton: Gained two, lost one (net +1)
  • BDO USA: Gained four, lost six (net -2)

Related article:

Deloitte Gobbled Up the Most New SEC Audit Clients in Q2; EY and KPMG Threw Up a Bunch of Clients

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